UTAH BANKRUPTCY LAW
Utah Bankruptcy:Attorneys, Statistics, Exemptions and Courts.
Utah Bankruptcy Statistics: In 2009, 14,829 bankruptcies were filed in Utah. Business bankruptcies accounted for 670 or 4.52% and personal bankruptcies accounted for 14,159 or 95.48% of the total filings.
Utah State Bankruptcy Exemptions
HomesteadThe home ("homestead") exemption is limited to $20,000 if the home is the debtor's primary residence and $5,000 if the home is not the primary residence. Utah defines "homestead" to include real property, mobile homes, or water rights. Sale proceeds from the home are exempt for one year; but, the debtor must file a homestead declaration prior to the sale of the home.
Personal PropertyThe following expenses or items are exempt in their entirety in Utah:
The following expenses or items are exempt up to a specified limit in Utah:
PensionThe following individuals'and their survivors'pension benefits are exempt when filing for bankruptcy in Utah:
The following pension types are exempt or partially exempt when filing for bankruptcy in Utah:
InsuranceThe following insurance types are entirely or partially exempt when filing for bankruptcy in Utah:
Public BenefitsThe following public benefits are exempt when filing for bankruptcy in Utah:
Tools of the tradeThis is a separate exemption. The following items have been considered tools of the trade in the state of Utah:
In Utah, the greater of 75% or more of disposable weekly earnings, or thirty times the federal hourly minimum wage.
MiscellaneousThe following miscellaneous benefits are exempt in Utah:
Wildcard: No.Federal Exemptions: No, debtors are not allowed to take federal exemptions when filing for bankruptcy in Utah.
Utah Bankruptcy Court:United States Bankruptcy Court, District of Utah